Today's Market Influencer :
Today Movement - Neutral to Positive
US market Future Indices and Asia Indices are positive as China and USA have second round of talks and China VP is expected to arrive on April 3 rd in USA .The oil prices are at $68.04/bbl(0.65%) and USDINR at 69.44(0.00%) as crude and dollar index spikes.
We expect markets to be Neutral to Positive as FIIs flows slightly negative but DIIs turn big positive and new series start which will be elections series.
Important Day Close Level is 11070/11589
Stock of the Day :
Bank of Baroda - Stop Loss125/123 & Target 134/137/141
Today onwards the bank becomes third largest bank . The merger of BoB , Vijaya and Dena Bank has ended up working as an acquisition because on BoB brand will exist going forward. And the management is expected to remain of BoB. This will give boost to valuation of the bank and recent capital infusion will help raise funds from market.
We would be positive for intraday trade.
POSITIONAL NIFTY LEVEL :
ALERT : PREVIOUSLY NIFTY CLOSED NEAR ALL IMPORTANT LEVELS INDICATING THERE WAS NO CLEAR SIGN OR BREAKING THE RANGE . WE SEE SOME UPSIDE WITH GLOBAL MARKETS AND WE HAVE STARTED INVESTED SOME CASH WHICH IS AT 20% LEVEL AS OF NOW.
Note : These are derived from an Internal Indicator and any movement or close below/above Support/Resistance of one time period moves the Support/Resistance to next time period.
Example : if current market levels is below or above 2 min levels then immediate levels to keep watch are 30 Min levels.